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bush decided to spend a large portion of the surpluses he inherited from president clinton to cut tax rates. many democrats opposed him then because the tax cuts were unfair, favoring the highest-income americans. to overcome that obstacle, the republicans resorted to a parliamentary technique, budget reconciliation, a maneuver that allowed for passage of their tax cuts but forced them to expire after 2010, at the end of the ten-year budget window. so we scroll forward to 2010. as 2010 ended, president obama and many democrats in congress, including myself, wanted to extend the tax cuts for middle-class families but let rates on income above $200,000 for an individual and $250,000 for a family revert to the clinton era levels. our senate republican friends filibustered that effort, refusing to allow the middle-class tax cut without a tax cut for the highest incomes as well. their hostage strategy worked that time and the president and senate democrats reluctantly agreed to extend the tax cuts for two more years. so now the two years is up and these tax rates are again set to expire. t
bush decided to spend a large portion of the surpluses he inherited from president clinton to cut tax rates. many democrats opposed him then because the tax cuts were unfair, favoring the highest-income americans. to overcome that obstacle, the republicans resorted to a parliamentary technique, budget reconciliation, a maneuver that allowed for passage of their tax cuts but forced them to expire after 2010, at the end of the ten-year budget window. so we scroll forward to 2010. as 2010 ended,...
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you go back and look at bill clinton after the attacks on the u.s. embassies in africa on august 7th of 1998, it took a little more than two weeks for bill clinton to respond force knee by dropping bombs on the farm suit alplant in khartoum. i had other examples of rather quick, which isn't to say precipitous, rather quick responses in part to send aess message. it's very important for the families and everybody here in the united states to understand that justice has in fact been pursued and had and to send a message to the world, just as the president said, if you mess with the united states there are serious and potentially deadly consequences for doing so. bill: i just want to add this. about a month ago the deputy interior minister said the investigation was going well. about three weeks ago the ministry spokesman said the results would come soon. i put those in quotes because we are still waiting on that. steven hayes, thank you out of washington. martha: remember the homeless man whose picture went viral on the internet when a new york city po
you go back and look at bill clinton after the attacks on the u.s. embassies in africa on august 7th of 1998, it took a little more than two weeks for bill clinton to respond force knee by dropping bombs on the farm suit alplant in khartoum. i had other examples of rather quick, which isn't to say precipitous, rather quick responses in part to send aess message. it's very important for the families and everybody here in the united states to understand that justice has in fact been pursued and...
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secretary of state hillary clinton says if assad goes down that road, there will be consequences. >> suffice it to say we are certainly planning to take action if that eventuality were to occur. >> this week nato foreign ministers are expected to approve turkey's request for patriot antimissile systems. turkey has been supportive of assad opponents and is concerned about possible retaliation by syrian missiles. >>> iran says it captured an american drove but a navy spokesman says none are missing. the commander says all the unmanned surveillance aircraft in the region are accounted for. other nations in the gulf including the united arab emirates have drones in service. >>> 5:15. muni issues are fixed. >> reporter: power was restored about 15 minutes ago before the morning commute heated up this morning so things are back on track. no delays for any muni lines right now so you be good to go for mass transit altogether. in fact, bart, ace, caltrain and ferries on time as well as muni. now, elsewhere we have a couple of things to look out for later on today. we have some roadwork sched
secretary of state hillary clinton says if assad goes down that road, there will be consequences. >> suffice it to say we are certainly planning to take action if that eventuality were to occur. >> this week nato foreign ministers are expected to approve turkey's request for patriot antimissile systems. turkey has been supportive of assad opponents and is concerned about possible retaliation by syrian missiles. >>> iran says it captured an american drove but a navy...
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>> it's not just the clinton tax rates. we had a pretty good economy under bill clinton. >> different spending rates, too, back then, governor. >> well, that's right. it's also cuts in defense which we haven't had in 30 years and a cut in human services, which i'd rather not do, but i think everybody needs to something on the table to get what we need to get. it's the best deal for the country. we'll have a recession. the cbo thinks and i agree with this, we'll have 1.3% negative growth for two quarters and we'll go back with a slightly less than 2% growth rate for the entire. we're not going to get out of this without pain. anybody when thinks we'll get through the deficit problem without having to do some sacrificing is wrong. what this does in my view as a democrat is it distributes the burden of the pain fairly, that is, we go back to the clinton tax rates for everybody, not just for rich folks. and we had a good economy under bill clinton. we go back -- we get -- cuts in defense spending which we know is higher than it
>> it's not just the clinton tax rates. we had a pretty good economy under bill clinton. >> different spending rates, too, back then, governor. >> well, that's right. it's also cuts in defense which we haven't had in 30 years and a cut in human services, which i'd rather not do, but i think everybody needs to something on the table to get what we need to get. it's the best deal for the country. we'll have a recession. the cbo thinks and i agree with this, we'll have 1.3%...
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restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates street if they should go up some, but do they need to go back where they work? i do not know. lots of ways to increase taxes on rich people, and it may be that a hybrid of marginal tax increases and the kind of base- broadening loophole closing expenditure closing that simpson-bowles proposed should be part of the mix. raising marginal rates does not guarantee you will get your intended target. a very rich people depend more on investment income than on their labour income. if you want to get them -- and this is where mitt romney was able to pay a 14% tax rate on earnings of $14 million -- so if you are trying to get the
restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates street if they should go up some, but do they need to go back...
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the 1990s bill clinton, newt gingrich, welfare reform, a balanced budget. confidence in our government to work together. since then we lost confidence in our government to do absolutely anything. we have left our children a $16 trillion debt. we have been in a war for 11 years. and nobody is feeling good about the future of america. look at your last couple interviews about how people feel about taxes. we dropped to number 16. can we get back to number one? yes, we can, but it takes leadership. megyn: how well the government is performing is some of the criteria. your material well being. how secure people feel in their community. quality of community life and the quality of gender equality in the country. over there in switzerland number one, apparently they do have a lot of freedom. they just voted down a smoking ban but voted in favor of drive-in sex boxes. who is conducting the survey? >> i understand where you are going. who is conducting the survey. i was in zurich this summer. i don't remember all of that. but it's how people feel. do they feel good
the 1990s bill clinton, newt gingrich, welfare reform, a balanced budget. confidence in our government to work together. since then we lost confidence in our government to do absolutely anything. we have left our children a $16 trillion debt. we have been in a war for 11 years. and nobody is feeling good about the future of america. look at your last couple interviews about how people feel about taxes. we dropped to number 16. can we get back to number one? yes, we can, but it takes leadership....
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did he specify the 39.6% rate of the clinton years? he did not. so is there a little give ultimately to sort of say what if it doesn't go up to 39.6%, but say 37%, is that something the white house would accept? also, this that same interview, the president raised the possibility, which is that after you do tax reform and you close loopholes and deductions, that if the rate is raised, the top rate, there's always a possibility that after you do tax reform, of course, the top rate would then go down again. so it was -- you have to listen to the president very carefully to see where there might be some give. the problem from my point of view is that everybody knows what's got to be done in the long-term. it's the question of the short-term deal. >> john boehner, speaker of the house, he came up with a proposal. but not all the conservatives in the house and the senate are on board. jim demint, republican senator from south carolina. >> this is a time to negotiate with ourselves. we need to invite the president to work with us. his proposal was so ou
did he specify the 39.6% rate of the clinton years? he did not. so is there a little give ultimately to sort of say what if it doesn't go up to 39.6%, but say 37%, is that something the white house would accept? also, this that same interview, the president raised the possibility, which is that after you do tax reform and you close loopholes and deductions, that if the rate is raised, the top rate, there's always a possibility that after you do tax reform, of course, the top rate would then go...
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bush or president bill clinton, or president george w. bush or president barack obama, the truth is, at the time they were elected president, we as a nation, overall, got the president we deserved at that time. now, one of the most impressive speeches i've ever heard was given by senator barack obama at the democratic convention, and i love the way he talked about america coming back as one america. not a red america or blue america but america. just one country. and it's one of the things that i drew great hope from on 9/12 delsh 2001 as people of the country -- on 9/12/2001 as people of the country gathered around, as we did in our east texas town, and we all held hands and we sang hymns and patriotic songs and you look -- i look around the circle and was deeply moved because i knew that day there were no hyphenated americans. there were just americans. and we were together. and everybody standing there in that square holding hands, we shared the love for our country. we wanted to see it strong. we wanted to see it recover from that dev
bush or president bill clinton, or president george w. bush or president barack obama, the truth is, at the time they were elected president, we as a nation, overall, got the president we deserved at that time. now, one of the most impressive speeches i've ever heard was given by senator barack obama at the democratic convention, and i love the way he talked about america coming back as one america. not a red america or blue america but america. just one country. and it's one of the things that...
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we'll go back to the clinton era, which will happen at the beginning of the year. >> stephanie: yeah. >> caller: and i mean also other people in the lower-income brackets will have to pay more, but i think we're willing to do that. >> stephanie: i don't think it's a preferable thing to go off of the cliff, but the more and more you see republicans have not changed one bit from their obstructionist ways i think, yeah, maybe. >> caller: it doesn't mean that starting january, the world will come to an end. >> caller: yeah, it's gradual. >> caller: and if you ask the people -- fortunately i live in texas, so the previous president i didn't -- i agree with a lot of times, but i will just say that he never asked us to sacrifice anything. he told us to go shopping. >> stephanie: yeah. >> caller: that is -- it's crazy. >> stephanie: exactly, unless you cut a [ inaudible ] for that last pair of [ mumbling ] shoes. >> stephanie: i should have picked an easier to pronounce shoe. >> keds. [ laughter ] >> stephanie: this is the headlines. they really have not -- they presented another budget where
we'll go back to the clinton era, which will happen at the beginning of the year. >> stephanie: yeah. >> caller: and i mean also other people in the lower-income brackets will have to pay more, but i think we're willing to do that. >> stephanie: i don't think it's a preferable thing to go off of the cliff, but the more and more you see republicans have not changed one bit from their obstructionist ways i think, yeah, maybe. >> caller: it doesn't mean that starting...
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i grew up under bill clinton who always said the best politics is good governing and i think we need to see more focus on solving problems and getting things done in washington than playing politics. i think to recognize there's been real progress made, right the border is safer today, the immigration system is better, the two parties worked together to do that over the last few years. there are still some meaningful things that need to get done. the d.r.e.a.m. act, we have to fix the low-end and high-end visa system. the mexicans are going to do a whole boar border system. i think there will be a lot of room to work together next year to get something meaningful done. if the republicans are earnest and play it straight i think they'll get a lot of credit for working with the democrats to fix the broken immigration system and making it better. jon: getting something meaningful done, it seems like a longtime since that's happened in washington. we'll look forward to it. simon rosenberg. kate obenshane thank you much. jenna: the nato alliance warning the assad regime in syria against u
i grew up under bill clinton who always said the best politics is good governing and i think we need to see more focus on solving problems and getting things done in washington than playing politics. i think to recognize there's been real progress made, right the border is safer today, the immigration system is better, the two parties worked together to do that over the last few years. there are still some meaningful things that need to get done. the d.r.e.a.m. act, we have to fix the low-end...
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going back to the clinton era rate of 39% -- >> is it about fairness? or is it about lessening the deficit? because it doesn't really do a whole lot for the debt or deficit over ten years. >> well, it's about fairness, but it's also about what are the better options? given that the wealthy are really skating by these days. and so how do you collect more revenue from them? and all the various ideas about, well, you cap this deduction, and cap that deduction. there are not only political constituencies that will fight tooth and claw on every deducti deduction, there are some reasons, fairly good reasons why you would want to think twice. you know, are you going to go after home mortgage deduction at a time when the housing industry is trying to get its feet? are you going to go after the exemption on taxation for health insurance? i mean, that's the biggest one, actually. that's like $250 billion a year. but i don't think anybody wants to dive back into that at this point. so, you know, how else are you going to do it? >> arianna, can i just say that -- a
going back to the clinton era rate of 39% -- >> is it about fairness? or is it about lessening the deficit? because it doesn't really do a whole lot for the debt or deficit over ten years. >> well, it's about fairness, but it's also about what are the better options? given that the wealthy are really skating by these days. and so how do you collect more revenue from them? and all the various ideas about, well, you cap this deduction, and cap that deduction. there are not only...
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. >> new york mayor michael bloomberg reportedly wants hillary clinton to be his successor. several newspapers reporting the mayor called the secretary of state months ago and urged her to run in 2013 and he's convinced she would win. calling her a perfect fit. mrs. clinton reportedly told mayor bloomberg that she's not interested. >>> all right a renewed appeal for the release of an american prisoner in cuba. 63-year-old alan gross is beginning his fourth year of a 15-year sentence on the island. the u.s. state department issued a new statement calling for his release. gross says he was there in an effort to connect cuba's small jewish community to the internet. the cuban authorities said he was using imported sensitive communications equipment to connect dissidents. >>> two virginia tech football players have been suspended from the team. they're charged with manufacturing and detonating an explosive device. police say 20-year-old joshua trimble and 19-year-old brian roadie were arrested sunday after a small explosion near an apartment building. no one was hurt. an attorne
. >> new york mayor michael bloomberg reportedly wants hillary clinton to be his successor. several newspapers reporting the mayor called the secretary of state months ago and urged her to run in 2013 and he's convinced she would win. calling her a perfect fit. mrs. clinton reportedly told mayor bloomberg that she's not interested. >>> all right a renewed appeal for the release of an american prisoner in cuba. 63-year-old alan gross is beginning his fourth year of a 15-year...
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kerry are considered high on the president's list of possible replacements for hillary clinton who has said that she is not staying on for the president's second term. cnn's elise labott is at the state department to talk about it. do a comparison for us, off the bat. pros and cons for the top diplomatic post. the halls of the state department are buzzing with potential new secretary of state. both would make a strong candidate. susan rice, for instance, one of president obama's closest advisers. she was his principal foreign policy adviser during his first campaign and helped shape his world view. they have a similar world view. all of this signifies susan rice would be influential when she goes to speak to diplomats around the world and world leaders and also in formulating foreign policy, which is very good for the state department. on the downside, you see what's happening with the benghazi affair. she's likely to have a bruising confirmation process. some republican senators said they might hold up her nomination. that could drag out a while. john kerry, on the other hand, would b
kerry are considered high on the president's list of possible replacements for hillary clinton who has said that she is not staying on for the president's second term. cnn's elise labott is at the state department to talk about it. do a comparison for us, off the bat. pros and cons for the top diplomatic post. the halls of the state department are buzzing with potential new secretary of state. both would make a strong candidate. susan rice, for instance, one of president obama's closest...
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that is clinton's only station. no. 12 and martina's and no. 16 and lafayette is all so on the chopping block. that is one of three stations in that city. it is a huge it district and we are talking about nine cities and 600,000 people and they answer 41,000 calls a year. this is a big deal. they're having a meeting in martinez at 130 and folks from the fire district are encouraging people to voice their concerns about these closers. they really don't have a choice and and a half to save the money and this is the only way to do it. >> not good news for those neighborhoods. jackie, thank you for the update. >> we're on the scene of what police are calling a sophisticated pop growing operation. will tran is on the scene. >> at 3:00 this morning neighbors saw three guys walking into this house and looked a ban did. they walked in and started grabbing things and removing them and putting them in their cars. neighbors felt that someone was burglarizing the place and they call the police department. the officers arrived i
that is clinton's only station. no. 12 and martina's and no. 16 and lafayette is all so on the chopping block. that is one of three stations in that city. it is a huge it district and we are talking about nine cities and 600,000 people and they answer 41,000 calls a year. this is a big deal. they're having a meeting in martinez at 130 and folks from the fire district are encouraging people to voice their concerns about these closers. they really don't have a choice and and a half to save the...
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and then could be bush versus clinton again. >> governor, thank you very much. appreciate your time. >> honor to be with you. >> right now it's time for "squawk on the street." ♪ >> good tuesday morning. welcome to "squawk on the street." i'm melissa lee with carl quintanilla, jim cramer and david faber. we're live from post 9 at the new york stock exchange. a vacuum here in terms of u.s. economic data. none on top today. we're looking at a flat open across the board. as for europe, movement there. the buyback of greek debt will in fact work. we're seeing just fractions of a percent in terms of changes there. our road map this morning starts with the latest in the fiscal cliff negotiations. the white house promptly rebuffs the gop counterproposal which calls for $800 billion in new tax revenue but without tax rate increases for the wealthy. could this tax issue deadlock the talks? >>> bank of america ceo warns the cliff must get stalled or the economy could be stifled well into 2014. >>> even more dividends pushed into 2012. coach, american eagle moving up and
and then could be bush versus clinton again. >> governor, thank you very much. appreciate your time. >> honor to be with you. >> right now it's time for "squawk on the street." ♪ >> good tuesday morning. welcome to "squawk on the street." i'm melissa lee with carl quintanilla, jim cramer and david faber. we're live from post 9 at the new york stock exchange. a vacuum here in terms of u.s. economic data. none on top today. we're looking at a flat...
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. >>> and a prominent new york city politician asked the secretary hillary clinton as she prepares to step down. michael bloomberg called clinton to encourage her to enter the 2013 race for new york mayor when his term end. "the new york times" made it clear that she had no interest in the job. if she, however, decides to change her mind, she has one hurdle she has to overcome. she has to be a resident of the city. she bought a home when sheep deep sided to run for senate. >> exactly. >> new york senate years ago. >> you would imagine hillary clinton is one of the superstars in politics, and she has certain star power. you would think if she comes back into politics at this point -- they say she is not -- she would want a national office compared to a big, big job like mayor of new york city. if she gets in the game, she's going for the top again. the white house, not here in new york. >> what is mayor bloomberg going to do, steps down december 31st of 2013. >> count his money, i guess. >>> speaking of money, mitt romney is making a career move of sorts. he's rejoining the board of di
. >>> and a prominent new york city politician asked the secretary hillary clinton as she prepares to step down. michael bloomberg called clinton to encourage her to enter the 2013 race for new york mayor when his term end. "the new york times" made it clear that she had no interest in the job. if she, however, decides to change her mind, she has one hurdle she has to overcome. she has to be a resident of the city. she bought a home when sheep deep sided to run for senate....
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mayor clinton. >> mayor chelsey clinton. >> jennifer: you think hillary clinton would be interested in being mayor? >> no, as great as new york is, i think it would feel like a demotioning to from traveling the world as secretary of state to dining the fine restaurant of new york. i think they'll vote in quinn. >> jennifer: karl, let me follow up with you. there is a new york democrat nate shinigoa who lost his race, but he received a letter from hillary clinton, and he posted it on his facebook. and she's in fact in that letter encouraging him to keep on fighting in the political website, saying that is new for clinton. do you think she's building support for a presidential campaign? >> i don't think she's building support to go on a nice long vacation. >> jennifer: i totally agree. >> which is probably what she's going to do, take a break while her team puts everything together. it's smart politics congratulating, and offering condolences to anyone who lost. i think it's pretty normal. i think it's usual that a candidate would put it up for the world to see but i think it's a smart t
mayor clinton. >> mayor chelsey clinton. >> jennifer: you think hillary clinton would be interested in being mayor? >> no, as great as new york is, i think it would feel like a demotioning to from traveling the world as secretary of state to dining the fine restaurant of new york. i think they'll vote in quinn. >> jennifer: karl, let me follow up with you. there is a new york democrat nate shinigoa who lost his race, but he received a letter from hillary clinton, and he...